What about sync? What about the prices being driven down by artists willing to take $200 for "exposure" as a background track on a show barely anybody watches? Writing and recording music is such an investment that there isn't enough pie to go around for the amount of people who want a piece.

There is much more DIY recording going on and everyone wants to get a ROI from their purchased gear and turn it into a career. There simply isn't room for everyone, IMO. Artist development is rare and less chances are being taken with less money being invested until they have proven to be marketable if not a quick turnaround. I don't think Billy Corgan has much knowledge of the music industry outside of his bubble (I'm a huge fan of his, btw) and I can't say I agree with him for the most part, but he has a point.